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8 stories mentioning PRIMUpdated 35m ago

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Wire

Primoris Services Cuts 2026 Earnings Outlook, COO Jeremy Kinch Steps Down; Shares Fall After-Hours

Primoris Services (PRIM) said late Monday its chief operating officer, Jeremy Kinch, is departing from the company, effective immediately.Also, Primoris expects lower revenue and gross profit for 2026, primarily driven by its Renewables business, as cost overruns and delays were identified, according to a statement.For 2026, the company now expects adjusted EPS of $2.05 to $2.60, down from the prior outlook of $4.80 to $5.00. Analysts polled by FactSet expect $4.85.Shares of Primoris Services were down more than 32% in after-hours activity.

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Insider Trading

Primoris Services Insider Sold Shares Worth $3,798,225, According to a Recent SEC Filing

John M. Perisich, Chief Legal and Administrative Officer, on May 28, 2026, sold 29,707 shares in Primoris Services (PRIM) for $3,798,225. Following the Form 4 filing with the SEC, Perisich has control over a total of 133,607 common shares of the company, with 133,607 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1361538/000144144426000004/xslF345X05/form4-05292026_090501.xml

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Wire

Primoris Services Shares Rise After Mizuho Upgrade

Primoris Services (PRIM) shares rose 9.2% on Monday after Mizuho upgraded the stock to outperform from neutral with a price target of $175 per share.Trading volume stood at over 2 million shares compared with a daily average of nearly 1.2 million.Price: $115.09, Change: $+10.29, Percent Change: +9.82%

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Research

Mizuho Upgrades Primoris Services to Outperform From Neutral, Price Target is $175

Primoris Services (PRIM) has an average rating of overweight and mean price target of $145.36, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Wire

Update: Primoris Services Shares Fall After Q1 Miss

(Updates with the latest stock price movement in the headline and the first paragraph.)Primoris Services (PRIM) shares fell 50% on Wednesday, a day after the company reported Q1 adjusted earnings and revenue below market expectations and issued full-year guidance well below analyst forecasts.The company reported Q1 adjusted net income late Tuesday of $0.59 per diluted share, down from $0.98 a year ago.Analysts polled by FactSet expected $0.85.Revenue for the quarter ended March 31 was $1.56 billion compared with $1.65 billion a year earlier.Analysts surveyed by FactSet expected $1.73 billion.The company said it now expects adjusted EPS in the range of $4.80 to $5.00 for full year 2026. Analysts polled by FactSet expect $5.98.Price: $101.19, Change: $-101.73, Percent Change: -50.13%

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Equities

Top Premarket Decliners

Atomera (ATOM) shares were 37% lower in Wednesday premarket activity, shaving gains from the previous session.Primoris Services (PRIM) stock was down 30% after the company posted overnight lower Q1 adjusted net income and revenue that also missed analysts' estimates in addition to issuing lower-than-expected 2026 non-GAAP EPS outlook.NICE (NICE) shares were down 13% after the company reported lower Q1 adjusted EPS in addition to setting Q2 and 2026 guidance that trailed analysts' forecasts.Occidental Petroleum (OXY) stock was 7.8% lower, a day after the company posted lower Q1 revenue.

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Wire

Primoris Services Q1 Adjusted Earnings, Revenue Decline; Shares Fall After Hours

Primoris Services (PRIM) reported Q1 adjusted net income late Tuesday of $0.59 per diluted share, down from $0.98 a year ago.Analysts polled by FactSet expected $0.85.Revenue for the quarter ended March 31 was $1.56 billion compared with $1.65 billion a year earlier.Analysts surveyed by FactSet expected $1.73 billion.The company said it now expects adjusted EPS in the range of $4.80 to $5.00 for full year 2026. Analysts polled by FactSet expect $5.98.Shares of the company were down 32% during after-hours activity.

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Research

KeyBanc Raises Price Target on Primoris Services to $179 From $173, Keeps Overweight Rating

Primoris Services (PRIM) has an average rating of overweight and mean price target of $179.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$PRIM

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